Buying individual units in a multifamily property with no HOA

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I am new to real estate investing. I am looking at purchasing my first property by 'house hacking'. It is a triplex. My goal is to live in one unit and rent out the other two. 

I have a concern with the property that I am looking into however. The 'triplex' is actually inside a multifamily dwelling. The dwelling itself has 8 units. Three of the units within the dwelling is being sold as one deal. Each unit within this multifamily dwelling is owned by different owners. There is no HOA over the 8 unit dwelling.

Does this sound like a good first deal or should I run away? How common is it to have multiple owners of one building with no HOA? Would any bank finance a deal like this under a FHA or conventional loan? How would insurance be handled on a deal like this? Any advice anyone? Thanks.